Waggle Network vs Tether

Tether (USDT) is 554925537.2× the size of Waggle Network (WAG) by market capitalisation. Over the past 30 days, USDT is ahead by 69.1 percentage points (WAG -69.1% against USDT -0.0%). Their daily returns move barely together (correlation 0.08 across 21 shared trading days). WAG has been the more volatile of the two, at 438% annualised against USDT's 1%.

Correlation: 0.08
Size ratio: 1 : 554925537.2
Ahead over 30 days: USDT

Waggle NetworkWAG

$4.431e-5

24h: -5.42%
Market cap: $321
Volume 24h: $120
Volatility (ann.): 438%

TetherUSDT

$0.999386

24h: +0.04%
Market cap: $178.26B
Volume 24h: $63.78B
Volatility (ann.): 1%

WAG 0.0%Share of the two combined market caps100.0% USDT

Performance

WAGUSDT

7 days-59.12%+0.03%USDT
30 days-69.09%-0.04%USDT

Correlation

0.08over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	WAG	USDT
Max drawdown (400d)	-89.8%	-0.2%
Risk-adjusted return (90d)	-0.16	0.03

Relative strength over 90 days: USDT outperformed WAG by 84.7% — measured on the WAG/USDT ratio, so it holds regardless of market direction.

Waggle Network →Tether →